"I'm a very patient man and I've given Craig every opportunity without actually setting a time on it," Ferguson told BBC Radio Cambridgeshire.

"He hasn't come back to me, so I'm definitely looking at other options."

Ferguson added: "We've had meetings with him and [director of football] Barry Fry's offered him a contract, better than anywhere else I think.

"I've spoken to him about the football side of things. You've got to hope after that he gives a positive answer but he's not given anything so we will wait and see."

Manchester City player Adam Drury will join the League One side on their pre-season trip to Portugal with the Posh boss eager to take a more in-depth look at the 20-year-old.

The right-back made 14 appearances while on loan at Burton Albion between January and May 2013.

"Manchester City have allowed us to have a look at him and Drury's going to come to Portugal with us," he said.

"We know plenty about him already but it's good of City to let us take a proper look at him without having to sign anything straight away.

"If it's a positive feeling from myself then I'll speak with Manchester City. I've always said I prefer to sign players and have them as a Peterborough player than get them on loan but I don't know if that is something they're willing to do."